April 11, 2017

Usual Questions

USUALLY ASKED QUESTIONS

What is required in order to collect a debt?

Successful debt collection depends on a number of factors, from the age of the debt; the service performed, authority (verbal/written); financial situation of the debtor and whether the debtor is an individual or a corporation. The contracted basis is important – ie you emails or SMS trail with the debtor. We will assess the information you provide and let you know of the prospects.

How long does debt recovery take?

Once we confirm acceptance to your submission we move swiftly into action. Our modus operandi is not fully disclosed. What we can tell you is that we don’t waste time in dispatching a professional, experienced field agent on the recovery. All endeavours are made to bring home the debt in the quickest possible time-frame. As a rule – 3 -4 weeks is the norm.

Are there any upfront court costs?

We endeavour to avoid the courts and do not seek any upfront court costs. Our intention is to collect the debt by our own effort. If  the debtor is reluctant to resolve the matter after all demands, we may then recommend court action. In such case we would fully advise as to the court cost before there is any commitment or obligation on your part.

What if the debtor disappears?

We are members of many databases that are not accessible to the public. These include national credit databases; national tenancy databases and Absconded/Wanted Lists. We can place an alert on the debtor’s name in order to locate their current whereabouts. Skipping interstate or overseas to avoid a debt is no longer a sound option for the debtor these days. We can track them down.

Are there fee variances and additional charges?

The fee is, as stated, in the Submission form authorising us to recover the funds. That fee does not vary. We are sometimes asked if our percentage fee is based on the Submission amount or the collected amount. The fee applies only on what is successfully recovered.

What if the debtor agrees to a payment arrangement?

A payment arrangement is sometimes an only option for the debtor in financial difficulties. In such a case, we monitor the payments on a weekly/fortnightly/monthly basis – recovered to our trust account. The funds are disbursed (EFT) at month-end (less the % fee) and paid directly into your nominated bank account. At the same time we issue a statement providing full details on the collection.

If I proceed to court, in which court would it be heard?

Under $75,000 is heard in the Magistrates Court. There are two types of claims in the Magistrates Court (1) a Minor Case Claim to $10,000; and (2) a General Procedure Claim $10,000-$75,000. Both are service by summons. Claims $75,000 to $250,000 are service by writ and are heard in the District Court. Claims over $250,000 are service by a writ and are heard in the Supreme Court

First International Debt Collection

SUBMIT A QUOTE FOR YOUR DEBT

Licensed bonded debt collection agency. ABN: 38 091 890 570 Member of Institute of Mercantile, Agents Australia Collectors Association, Mercantile Agents Association
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